Case Study on Walmart Marketing Strategy

In today’s fast-paced world, an individual may not find time to visit different stores to buy all the items on his shopping list. What if we told you that there is a superstore that offers everything you need—from groceries to electronics—and that they do it at the most affordable price?

In this blog, we’ll offer an overview of the world’s biggest superstore, “Walmart,” and its marketing tactics.

Walmart Overview

Sam Walton established Walmart in 1962. They established their first location in Arkansas, usually provide their customers with low-cost merchandise, and prioritize effective supply chain management and logistics. In order to fund its expansion, the firm went public in 1970 and was listed on the US Stock Exchange. By the end of the year, it had approximately 250 stores and recorded a $1 billion sale. The company uses cutting-edge technology to manage its supply chain distribution and inventory, and it quickly became one of the USA’s fastest-growing retailers. By 1991, they had opened additional locations in Mexico and Canada, made investments in e-commerce, and developed a website. Walmart grew quickly in the 2000s, entering markets including China, Germany, and the UK, and by that time, they had generated $200 billion in revenue. 

Nevertheless, their rare forays into nations like South Korea and Germany proved unsuccessful, forcing them to leave those markets. In order to strengthen their e-commerce operations and market reach, the company purchased Jet.com. In 2018, it also acquired a majority stake in Flipkart. The company was able to grow its online business during the COVID-19 pandemic because most of its physical stores were closed worldwide. At the same time, it introduced contactless shopping and Walmart+, a membership program, to compete with rival Amazon Prime. 

Walmart Marketing Strategies

The marketing strategy of the company focuses on its core value of offering the lowest price to its customers; a few of its strategies are mentioned below-

• Lowest Price – Customers can compare its prices with other stores and see that it continually strives to deliver products at the lowest price.
• Promotions and Discounts – The company offers weekly ad circulars with special discounts highlighted in them, as well as online coupons and promo codes. 
• Loyalty Program – The company provides exclusive discounts and loyalty benefits to its regular customers to keep them as clients for extended periods. 
• Membership Program – Similar to Amazon, the company offers memberships to its consumers and provides benefits like free shipping and other perks. 
• Store Experience – The company’s stores have a neat, orderly atmosphere and a variety of amenities. Additionally, their customer service representatives are incredibly polite and helpful to their clients. 
• Digital Marketing – Walmart’s online marketing team consistently shares interesting information on various social media networks. 

Walmart Product Portfolio

The company offers a wide range of products to its customers; the categorization of the products are as follows-

• Groceries – The company delivers all types of grocery products, including meat, dairy, snacks, frozen, packaged food, etc., to its consumers. In addition, the corporation provides its clients with private-label brands at affordable prices. Bakery and healthcare products are also available at Walmart locations. 
• Footwear and Dresses – Besides providing a large assortment of clothing from different brands in their stores, the company also offers private label products in the footwear and clothing categories. 
• Furniture and Home Décor – A Walmart store also has a variety of other home décor products in addition to furniture.
• Electronics – Walmart also offers electrical goods, such as video games, air conditioners, and televisions. Additionally, it sells CCTV and other home security solutions. 
• Sports Equipment – The company also sells fitness equipment at its stores, like baseball, fishing gear, accessories, and athletic wear. 

Conclusion

Finally, it should be noted that Walmart has grown from a bargain retailer to one of the biggest retail chains in the world due to creative marketing strategies and cutting-edge technology. The business has encountered difficulties in a few nations that have forced them to suspend operations. Walmart has a devoted customer base as they have consistently provided the lowest prices on a wide range of products. 

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